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Lockheed Martin (LMT) Stock Dips While Market Gains: Key Facts
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In the latest market close, Lockheed Martin (LMT - Free Report) reached $447.57, with a -1.06% movement compared to the previous day. This change lagged the S&P 500's 0.15% gain on the day. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq gained 0.32%.
Coming into today, shares of the aerospace and defense company had gained 4.06% in the past month. In that same time, the Aerospace sector lost 3.76%, while the S&P 500 gained 1.65%.
Market participants will be closely following the financial results of Lockheed Martin in its upcoming release. The company plans to announce its earnings on April 23, 2024. The company's upcoming EPS is projected at $5.86, signifying an 8.86% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $16.04 billion, up 6.02% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $26.13 per share and revenue of $69.42 billion, which would represent changes of -6.07% and +2.74%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Lockheed Martin. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% lower. Lockheed Martin is currently sporting a Zacks Rank of #4 (Sell).
In the context of valuation, Lockheed Martin is at present trading with a Forward P/E ratio of 17.32. For comparison, its industry has an average Forward P/E of 18.5, which means Lockheed Martin is trading at a discount to the group.
We can additionally observe that LMT currently boasts a PEG ratio of 4.13. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Aerospace - Defense industry stood at 1.86 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 100, placing it within the top 40% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Lockheed Martin (LMT) Stock Dips While Market Gains: Key Facts
In the latest market close, Lockheed Martin (LMT - Free Report) reached $447.57, with a -1.06% movement compared to the previous day. This change lagged the S&P 500's 0.15% gain on the day. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq gained 0.32%.
Coming into today, shares of the aerospace and defense company had gained 4.06% in the past month. In that same time, the Aerospace sector lost 3.76%, while the S&P 500 gained 1.65%.
Market participants will be closely following the financial results of Lockheed Martin in its upcoming release. The company plans to announce its earnings on April 23, 2024. The company's upcoming EPS is projected at $5.86, signifying an 8.86% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $16.04 billion, up 6.02% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $26.13 per share and revenue of $69.42 billion, which would represent changes of -6.07% and +2.74%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Lockheed Martin. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% lower. Lockheed Martin is currently sporting a Zacks Rank of #4 (Sell).
In the context of valuation, Lockheed Martin is at present trading with a Forward P/E ratio of 17.32. For comparison, its industry has an average Forward P/E of 18.5, which means Lockheed Martin is trading at a discount to the group.
We can additionally observe that LMT currently boasts a PEG ratio of 4.13. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Aerospace - Defense industry stood at 1.86 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 100, placing it within the top 40% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.